THE SENATE S.B. NO. 2967 THIRTY-FIRST LEGISLATURE, 2022 STATE OF HAWAII A BILL FOR AN ACT Relating to THE important agricultural lands Qualified agricultural cost tax credit. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
THE SENATE S.B. NO. 2967
THIRTY-FIRST LEGISLATURE, 2022
STATE OF HAWAII
THE SENATE
S.B. NO.
2967
THIRTY-FIRST LEGISLATURE, 2022
STATE OF HAWAII
A BILL FOR AN ACT
Relating to THE important agricultural lands Qualified agricultural cost tax credit.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-110.93, Hawaii Revised Statutes, is amended by amending subsection (l) to read as follows: "(l) The department of agriculture shall cease certifying credits pursuant to this section for taxable years beginning after December 31, [2021;] 2031; provided that a taxpayer with accumulated, but unclaimed, certified credits may continue claiming the credits in subsequent taxable years until exhausted." SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored. SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2021. INTRODUCED BY: _____________________________
SECTION 1. Section 235-110.93, Hawaii Revised Statutes, is amended by amending subsection (l) to read as follows:
"(l) The department of agriculture shall cease certifying credits pursuant to this section for taxable years beginning after December 31, [2021;] 2031; provided that a taxpayer with accumulated, but unclaimed, certified credits may continue claiming the credits in subsequent taxable years until exhausted."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2021.
INTRODUCED BY: _____________________________
INTRODUCED BY:
_____________________________
Report Title: Important Agricultural Lands Qualified Agricultural Cost Tax Credit Description: Extends the Important Agricultural Lands Qualified Agricultural Cost Tax Credit until December 31, 2031. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
Report Title:
Important Agricultural Lands Qualified Agricultural Cost Tax Credit
Description:
Extends the Important Agricultural Lands Qualified Agricultural Cost Tax Credit until December 31, 2031.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.